EUROPE GAS - Prices stable amid ample supply and milder weather
The European and British gas contract prices were mostly unchanged on Friday, despite the milder weather forecast. Supplies from Norway and LNG are also steady. There is still uncertainty about future Russian gas supplies in the event of a peace agreement with Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.09 euros to 47.51 Euro per Megawatt Hour (MWh)…
EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. Despite a decline in Russian pipeline gas supplies…
Moldova names new Energy Minister
Dorin Dzungietu, a gas industry expert from Moldova, was appointed as the country's new Energy Minister by President Maia Sandu on Wednesday morning. He was sworn into office at the Presidential Office. Junghietu replaced Viktor Parlicov who was fired in December after failing to prepare for a possible stoppage of gas supplies for Moldova's separatist…
Draft shows EU will work to more flexible filling targets for gas storage
A draft EU document revealed that the European Commission would work to develop more flexible targets so EU countries can fill their gas storage before winter. This follows concerns from some governments about Europe's strict deadlines for filling up. In 2022, after Russia cut gas supplies to Europe, the European Union introduced its current targets. Member countries must fill their storage caverns up to 90% capacity by November.
In the shadow of tariffs, Europe's markets can benefit from a ceasefire in Ukraine
The markets have bet that a ceasefire agreement between Russia and Ukraine will ease the pressure on energy and euro prices, and also reduce the impact of increased U.S. tensions. Meanwhile, expectations about defence spending has already sent stocks in this sector soaring. Marco Rubio, Secretary of State, arrived in Saudi Arabia Monday to discuss with Russian officials. President Donald Trump ordered U.S.
Spot prices drop on increasing wind power supply
European spot prices fell on Monday for Tuesday, as a rise in wind power production across the region is expected to exceed demand increases. LSEG data shows that the German day-ahead electricity price was 135.75 Euros ($142.29 per megawatt hour (MWh), down 9.5% on Friday's prices for Monday. LSEG data shows that the French baseload electricity price for Tuesday is 129.50 Euros/MWh.
Breakaway Moldovan Region claims it received gas supplies backed up by Russian loan
Separatist authorities announced on Friday that the pro-Russian Transdniestria region of Moldova, which is a breakaway region, has begun receiving gas under a Moscow loan. Transdniestrian leader Vadim Krsnoselsky stated in a Telegram statement that the Russian loan assistance as well as cooperation with Russia's Ministry of Energy made gas deliveries possible.
EU rules could overheat a gas market already on fire: Bousso
European policymakers who are worried about rising energy prices have already shot themselves in two feet. Two rules designed to manage the gas market of the region run the risk instead of overheating the market during the summer months, when stocks should be refilled. In response to the disruption of gas supplies caused by the Russian invasion of Ukraine, European Union set binding targets for the storage of gas in November.
Prices for Europe GAS fall due to mixed temperatures and strong renewable output
The wholesale gas prices in the Netherlands and Britain fell on Tuesday, reversing a 15-month peak reached the previous session due to mixed weather forecasts and a higher renewable production. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down by 1.18 euros at 52.57 Euro per Megawatt-Hour (MWh) or $15.91/mmBtu at 1235 GMT.
EUROPE GAS Prices fall on profit-taking and mixed temperatures outlook
Dutch and British wholesale prices of gas fell on Tuesday morning due to profit-taking. Prices had reached a new 15-month-high on Monday, amid mixed weather forecasts for this week. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was lower by 0.65 euros at 53.10 Euro per Megawatt-hour (MWh) or $16.10/mmBtu at 0925 GMT. On Monday, the contract reached its highest intra-day level of 54.61 euro/MWh.
Gas funded by the EU brings light back to a separatist region in Moldova
On Monday, authorities in Moldova's separatist Transdniestria began heating apartments during winter conditions after a month-long power cut. The European Union funded the resumption of natural gas flows. Transdniestria - which separated from Moldova after the Soviet Union ended - relied on Russian Gas passing through Ukraine. But Kyiv refused a transit agreement beyond the new year…
Moldova Gaz: Moldova sends first 3 mcm gas to Transdniestria
The company Moldovagaz said that it shipped the first 3 million cubic meters of natural gas to the Russian-backed separatist Transdniestria on Saturday. These were the first deliveries after the Russian gas transit via Ukraine was halted. The pro-Moscow enclave in which Russia has sent troops to support the breakaway administration has been without power and heat since New Year's Day.
Baker Hughes exceeds its quarterly profit expectations on natgas demand
Baker Hughes, a U.S. oilfield equipment company, beat Wall Street's fourth-quarter profit estimates on Thursday as strong demand for natural gas products and services offset the weak sales of its drill gear in North America. Oilfield services companies are struggling with lower demand, as extraction technology becomes more efficient and increased supplies discourage more drilling from energy companies.
Trinidad and Tobago auctions 26 deepwater oil and natural gas blocks at the largest ever auction
Official notices state that Trinidad and Tobago offered 26 offshore oil and natural gas blocks on Tuesday in its largest ever auction of deepwater exploration and production areas. In order to fully utilize its gas processing capability, the twin-island Caribbean nation, Latin America's biggest exporter of LNG, is pressing producers, particularly those offshore, to increase natural gas production.
Prices of EUROPE GAS rebound due to a weaker wind and colder weather
The wholesale gas prices in the Netherlands and Britain rebounded Tuesday morning after falling on Monday, due to expected colder weather conditions and reduced wind output. The benchmark contract for the Dutch TTF hub at 0914 GMT was 0.67 euros higher, at 48.59 Euros per Megawatt Hour (MWh), while the contract for March was 1.52 Euros higher, at 48.45 EUR/MWh.
Adani Total Gas, India's largest gas company, reports a Q3 profit decline due to higher gas procurement costs
Adani Total Gas, a company in India, reported on Monday a 20% drop in its third-quarter profits. This was due to higher gas costs after the government cut back supply. Adani Group's profit fell by 20% in the three-month period ended December 31, to 1.42 billion rupees (about $16.4 million), compared with a year earlier. In October and November the…
US NatGas Demand Could Hit Record High
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply.In February 2021, a freeze in Texas killed more than 200 people and left millions without power…
IEA: Global gas markets will remain tight due to rising demand
LONDON (Jan. 21) - The global natural gas market will remain tight in 2019 as the demand for gas increases and production grows slower than it did before the energy crises of 2022 and 2020-2021. This was revealed by a report released on Tuesday by the International Energy Agency. Political factors have exacerbated the volatility of gas prices, including the uncertainty surrounding the energy policy of U.S.
After holiday weekend, US demand for natgas is expected to reach record levels
The U.S. demand for natural gas is expected to hit a record next week, as the extreme cold that has gripped the U.S. this winter will put pressure on power grids again the day following the Martin Luther King Jr. Day weekend. This week, gas futures reached two-year highs ahead of the freezing weather. Meanwhile, spot prices in several major hubs around…
Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S.
